Genus Capital Management Inc. acquired a new stake in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 20,054 shares of the pipeline company's stock, valued at approximately $887,000.
Several other institutional investors and hedge funds have also modified their holdings of ENB. Cerity Partners LLC lifted its position in Enbridge by 5.9% during the 1st quarter. Cerity Partners LLC now owns 229,873 shares of the pipeline company's stock worth $10,186,000 after acquiring an additional 12,758 shares during the last quarter. Financial Gravity Asset Management Inc. acquired a new position in Enbridge during the 1st quarter worth $28,000. Alps Advisors Inc. lifted its position in Enbridge by 40.1% during the 1st quarter. Alps Advisors Inc. now owns 17,994 shares of the pipeline company's stock worth $797,000 after acquiring an additional 5,147 shares during the last quarter. Rogco LP lifted its position in Enbridge by 4.0% during the 1st quarter. Rogco LP now owns 11,707 shares of the pipeline company's stock worth $519,000 after acquiring an additional 445 shares during the last quarter. Finally, Leavell Investment Management Inc. lifted its position in Enbridge by 1.5% during the 1st quarter. Leavell Investment Management Inc. now owns 24,830 shares of the pipeline company's stock worth $1,100,000 after acquiring an additional 358 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company's stock.
Analysts Set New Price Targets
A number of research analysts have weighed in on ENB shares. National Bankshares reissued a "sector perform" rating on shares of Enbridge in a research report on Monday, May 12th. Citigroup initiated coverage on shares of Enbridge in a report on Friday, April 4th. They set a "buy" rating on the stock. Wall Street Zen upgraded shares of Enbridge from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. BMO Capital Markets restated a "market perform" rating on shares of Enbridge in a report on Monday, May 12th. Finally, Royal Bank Of Canada restated an "outperform" rating and set a $67.00 price objective on shares of Enbridge in a report on Monday, May 12th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $67.00.
Read Our Latest Report on Enbridge
Enbridge Stock Performance
NYSE ENB opened at $44.53 on Friday. The stock has a market cap of $97.09 billion, a P/E ratio of 22.95, a PEG ratio of 4.19 and a beta of 0.79. The company's 50-day simple moving average is $45.49 and its 200 day simple moving average is $44.32. Enbridge Inc has a twelve month low of $35.68 and a twelve month high of $47.44. The company has a quick ratio of 0.66, a current ratio of 0.73 and a debt-to-equity ratio of 1.51.
Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its earnings results on Friday, May 9th. The pipeline company reported $0.72 earnings per share for the quarter, beating analysts' consensus estimates of $0.68 by $0.04. The business had revenue of $7.27 billion for the quarter, compared to analysts' expectations of $10.20 billion. Enbridge had a net margin of 10.16% and a return on equity of 10.41%. During the same quarter in the previous year, the firm posted $0.92 earnings per share. As a group, research analysts forecast that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.
Enbridge Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Thursday, May 15th were paid a $0.679 dividend. The ex-dividend date was Thursday, May 15th. This represents a $2.72 dividend on an annualized basis and a yield of 6.10%. This is a boost from Enbridge's previous quarterly dividend of $0.67. Enbridge's payout ratio is presently 140.21%.
Enbridge Company Profile
(
Free Report)
Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.
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